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New Line Clothings to lift BDT 300m arising IPO

Dhaka, Bangladesh (BBN)– Garment marketplace New Line Clothings is set to lift BDT 300 million from a collateral marketplace arising initial open charity (IPO).

Interested investors might request for subscription of New Line Clothings IPO from Feb 18 that will be continued to compartment Feb 28.

The bonds regulator — Bangladesh Securities and Exchange Commission (BSEC), authorized a company’s IPO offer on Nov 28, 2018.

As per a bonds regulator’s approval, a association will offload 30 million typical shares during an offer cost of BDT 10 any to lift a pronounced volume underneath a bound cost method.

A marketplace lot is of 500 shares and an financier needs BDT 5,000 to request for any lot of a company’s IPO.

For non-resident Bangladeshi (NRB) and unfamiliar applicants, a compulsory volume (per lot) for subscription is US$ 60.10 or GBP 46.09 or EUR 53.05, according to a Dhaka Stock Exchange (DSE).

The association will use a IPO account to merger of plant machine (39.23 per cent), prolongation of bureau building (25.44 per cent), prejudiced loan amends (30 per cent), and IPO losses (5.31 per cent).

As per a entity’s audited financial matter for a year finished on Jun 30, 2017, a company’s net item value per share and weighted normal gain per share are BDT 20.51 (without revaluation) and BDT 1.85 respectively.

The company’s pre-IPO paid-up collateral is BDT 399 million and certified collateral is BDT 1.0 billion.

Banco Finance and Investment Ltd, Shandhani Life Finance Limited and SoutheastBank Capital Services Limited acts as a emanate manager for a IPO process.

At present, 53 textiles and mantle companies are listed with a Dhaka Stock Exchange (DSE), accounting for about 4.0 per cent of sum marketplace capitalisation of a DSE.

The primary activities of a association is to make several kinds of woven panoply for both ladies and gents including trousers, shirts, children wear, gents wear, womanlike wear, jackets, Sportswear, denim panoply and marketing.

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Article source: https://businessnews-bd.net/new-line-clothings-to-raise-bdt-300m-issuing-ipo/

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